Full width home advertisement

Post Page Advertisement [Top]

MUMBAITata Sons is in talks with Singapore Airlines (SIA), its joint-venture partner in Vistara, to waive a non-compete clause and partner with it in a proposed bid for the beleaguered national carrier Air India. The bid will be through Vistara, which is a full-fledged carrier. 

 


The holding company of the $113-billion (₹8.34 lakh crore) salt-to-software conglomerate has taken a decision in principle to bid for Air India, officials close to the developments said.

While it is likely that SIA will give its consent to the bid proposal, the Tata Group may also be prepared to go it alone if the partner does not agree to the plans, officials said. The group would go ahead with the Air India bid regardless of the fallout on the joint venture, they said.

The government is said to be keen that the Tata Group take over and steer the national carrier and has promised to be supportive post-privatization on backing the group in dealing with bureaucratic irritants, the officials cited above said.#

Via (Economic Times)

Bottom Ad [Post Page]

Subscribe to our Newsletter
Arrives everyday at 9.00 am Pacific Time